THE IDEAS PROJECT — DAY 29
Day 29. Nearly there. The penultimate idea. Last time out, I chatted about product building, and building products that customers love, and not just what developers want to build. In this piece i’m drilling in further into the importance of customers who love your brand and product, and how to get them even more invested in your company.
OLD IDEA 1: 1,000 Fans
OLD IDEA 2: Corporate Ownership
NEW IDEA: Reward the top 1,000 fans, the 1,000 customers who love everything your brand does and offers, with a stake in the ownership of the brand. Further increasing loyalty, emotional investment, and advocacy.
Five Whys:
- The first one thousand fans are foundational to any business.
- They are invested in your brand, your mission, your product, will provide feedback, will act as a community, ‘a tribe’, and will be advocates.
- Those fans want more than ownership of your product, they want to ‘belong’ to the brand. It is part of their identity.
- Why not offer, as part of the product, an opportunity to take a stake in the company as well?
- The true believers. Who’ll be great custodians for the brand.
Question: Have you ever been a brand fan? Someone who signs up to every news letter, buys every product, and eulogises to your friends. Would you have bought a stake in the company if offered?
